Shahmar Movsumov, the Executive Director of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) received on January 14, 2008 the delegation headed by US Senator Richard Lugar.

Sh. Movsumov briefed about the Fund's activity, as well as the projects financed by the Fund and management of its assets. He talked about SOFAZ's leading role in implementation of the Extractive Industries Transparency Initiative (EITI), Azerbaijan's representation at the international EITI Board and the Resolution drafted by the government of Azerbaijan for submission to the UN General Assembly and answered the questions of the guests.

Senator R. Lugar extended his congratulations to SOFAZ Executive Director on the Fund's winning of the prestigious 2007 UN Public Service Award and appreciated the Fund's achievements.